The current season has been extremely fair to the cumin market with a regular price hike. As a result, there has been an uptick of $0,13 per kg in the last ten days. At present, the activity in the market is still high. Moreover, it is believed the price will become bullish as soon as the export demands increase in the market.
Unjha, the benchmark market of Cumin, is witnessing a decrease in the arrival of the crop. The present arrival is estimated to be between 15 and 16 thousand sacks. But the arrival is still below fifty percent than average as per market experts.
Reports suggest that the price increase in Cumin is due to factors like:
- Decrease in the overall sowing of the crop for the season. Farmers preferred to plant other crops since Cumin was not giving good returns in the last few years.
- The overall sowing area was down to 307,100 hectares compared to last year’s 466,200 hectares.
- Also, due to the weather, there has been a delay in the crop sowing in Gujarat by 20 to 25 days.
These all factors have resulted in a low supply of the crop in the market. As per market experts, generally, by February fortnight, the pressure of the arrival starts, but by April this year, there was still a limited supply of the spice.
Currently, there is a lack of export activity due to the container constraint, high freight prices, and congestion in the ports. But it is expected that despite all these factors, the export market will start to pick up as international buyers will try to fulfill their demand from India.
Though Turkey, Syria, and Afghanistan are becoming key Cumin-producing countries globally, India can still lead the way since the latter’s quality is better than other Cumin producing countries.
Experts believe that there can be a break in the price of the spice for a couple of days. But the overall future will be excellent and bullish for the commodity.
Cumin A Grade 99% Pure
|April 25||$2,94 per kg FOB|
|April 19 – 21||$2,93 per kg FOB|
|April 12 -18||$2,92 per kg FOB|
|April 7 – 11||$2,91 per kg FOB|
|April 6||$2,90 per kg FOB|
|April 4 – 5||$2,88 per lg FOB|